Allogene Therapeutics (NASDAQ:ALLO) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Allogene Therapeutics (NASDAQ:ALLO) from a buy rating to a hold rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Allogene Therapeutics, Inc. is a biotechnology company. It develops allogeneic chimeric antigen receptor T-cell therapy for the treatment of blood cancers and solid tumors. The company’s product pipeline consists of UCART19, ALLO-501, ALLO-715, ALLO-819, CD70, DLL3 and ALLO-647 which are in clinical stage. Allogene Therapeutics, Inc. is headquartered in South San Francisco, California. “

Several other research analysts also recently weighed in on the stock. William Blair restated a buy rating on shares of Allogene Therapeutics in a research note on Monday, April 15th. BTIG Research assumed coverage on shares of Allogene Therapeutics in a research note on Friday. They set a buy rating and a $37.00 price objective on the stock. Guggenheim started coverage on shares of Allogene Therapeutics in a report on Thursday, May 30th. They set a neutral rating for the company. Stifel Nicolaus started coverage on shares of Allogene Therapeutics in a research report on Wednesday, May 22nd. They set a hold rating and a $27.00 target price on the stock. Finally, Roth Capital began coverage on shares of Allogene Therapeutics in a research report on Wednesday, June 5th. They set a neutral rating and a $26.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $36.10.



Shares of Allogene Therapeutics stock traded up $0.37 during trading hours on Monday, hitting $29.49. The company’s stock had a trading volume of 100 shares, compared to its average volume of 323,025. Allogene Therapeutics has a 1-year low of $21.67 and a 1-year high of $35.55. The firm has a fifty day moving average price of $28.23. The firm has a market cap of $3.80 billion and a P/E ratio of -4.48. The company has a quick ratio of 13.46, a current ratio of 13.46 and a debt-to-equity ratio of 0.05.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.06. Analysts anticipate that Allogene Therapeutics will post -1.94 EPS for the current year.

In related news, insider Alison Moore sold 48,827 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $29.44, for a total value of $1,437,466.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 36.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Allogene Therapeutics by 26.3% in the first quarter. FMR LLC now owns 6,200,543 shares of the company’s stock valued at $178,313,000 after buying an additional 1,289,556 shares in the last quarter. LLBH Private Wealth Management LLC raised its stake in shares of Allogene Therapeutics by 652.8% in the second quarter. LLBH Private Wealth Management LLC now owns 1,155,717 shares of the company’s stock valued at $31,031,000 after buying an additional 1,002,199 shares during the period. Norges Bank bought a new stake in shares of Allogene Therapeutics in the fourth quarter valued at $10,772,000. Bainco International Investors bought a new stake in shares of Allogene Therapeutics in the first quarter valued at $10,217,000. Finally, Geode Capital Management LLC bought a new stake in shares of Allogene Therapeutics in the fourth quarter valued at $8,592,000. 51.30% of the stock is owned by institutional investors.

About Allogene Therapeutics

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. The company is developing UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate, which is in Phase I clinical trials for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL; and ALLO-501, an allogeneic CAR T cell product candidate targeting CD19 to treat R/R non-Hodgkin lymphoma.

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